Financial Performance - Total revenue for Q3 2024 was CNY 970,817,826.07, representing a slight increase of 0.20% year-over-year[35]. - Net profit attributable to shareholders decreased by 47.01% year-over-year to CNY 33,608,245.13[35]. - The net profit after deducting non-recurring gains and losses fell by 66.77% year-over-year to CNY 14,812,927.82[35]. - The company experienced a 68.38% decline in operating profit year-over-year, attributed to a decrease in product prices[22]. - The net profit for the third quarter of 2024 was CNY 96,478,546.63, a decrease of 70.4% compared to CNY 325,169,915.30 in the same period last year[67]. - The total revenue from operating activities was CNY 2,520,607,105.15, down from CNY 2,901,920,677.37, reflecting a decline of 13.1% year-over-year[70]. - The basic and diluted earnings per share were both CNY 0.17, down from CNY 0.34 in the previous year[68]. Cash Flow and Investments - Cash flow from operating activities decreased by 87.13% year-to-date, totaling CNY 32,552,614.93[35]. - Cash recovered from investments increased by 47.78% year-on-year, mainly due to an increase in maturing structured deposits[48]. - Cash received from the disposal of fixed assets, intangible assets, and other long-term assets increased by 857.27% year-on-year, primarily due to government relocation payments received[49]. - Cash paid for financing activities increased by 409.11% year-on-year, mainly due to increased stock repurchase payments and the acquisition of minority shareholder equity in Ningxia Taihe Aromatic Fiber Co., Ltd.[50]. - The company reported a net cash outflow from investing activities of ¥861,660,028.28, an improvement from a net outflow of ¥1,528,834,163.80 in the previous year[93]. - The net cash inflow from financing activities was ¥291,374,431.31, a decrease from ¥2,957,607,243.06 year-over-year[93]. Assets and Liabilities - Total assets increased by 7.91% compared to the end of the previous year, reaching CNY 14,697,855,316.55[35]. - Total liabilities increased to approximately 6.82 billion yuan, up from approximately 5.55 billion yuan in the previous year, indicating a rise in financial obligations[63]. - The total liabilities and equity rose to CNY 14,697,855,316.55, compared to CNY 13,620,516,414.53, indicating an increase of 7.9%[66]. - The company’s non-current assets totaled ¥9,073,385,933.05, up from ¥8,035,123,868.78, indicating an increase of about 12.9%[83]. - Deferred tax assets increased to ¥70,606,148.36 from ¥28,120,194.41, representing a growth of approximately 150%[83]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 39,441, with the largest shareholder holding 18.42% of the shares[51]. - The company plans to repurchase shares with a total amount not less than CNY 50 million and not exceeding CNY 100 million to enhance shareholder value[78]. - The total equity attributable to shareholders of the parent company decreased to CNY 7,064,771,289.32 from CNY 7,251,653,182.30, a decline of 2.6%[66]. Expenses and Impairments - The company’s financial expenses increased by 76.25% year-over-year, mainly due to rising interest expenses and reduced interest income[42]. - Research and development expenses increased to CNY 161,675,453.06, up 6.9% from CNY 151,211,482.15 in the previous year[67]. - The company recognized a total impairment loss of 40.68 million yuan, including credit impairment losses of 17.62 million yuan and asset impairment losses of 23.06 million yuan[57]. - Income tax expenses decreased by 56.30% year-on-year, primarily due to a reduction in total profit for the year[45]. - Tax refunds received decreased by 75.65% compared to the same period last year, mainly due to a reduction in VAT refunds and export tax rebates[46]. Inventory and Receivables - Accounts receivable rose by 94.43% compared to the beginning of the year, mainly due to an increase in receivables not yet settled[13]. - Inventory at the end of the reporting period was approximately 1.57 billion yuan, compared to approximately 1.21 billion yuan in the previous year, reflecting an increase in inventory levels[60]. - Accounts receivable rose to ¥704,337,674.77 from ¥362,249,372.86, reflecting an increase of approximately 94.5%[83].

临时公告：2024-059 证券代码：002254 股票简称：泰和新材 公告编号：2024-059 泰和新材集团股份有限公司 关于部分股权激励限制性股票回购注销完成的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 （以下简称"烟台市国资委"）《关于烟台泰和新材料股份有限公司实施 2022 年限制性股票激励计划的批复》（烟国资〔2022〕65 号），烟台市国资委原则同 意公司实施 2022 年限制性股票激励计划。 特别提示： 1、本次回购注销的限制性股票为公司 2022 年限制性股票激励计划已授予 的部分限制性股票，涉及 12 名激励对象，限制性股票共计 500,000 股，占本次 注销前公司总股本 863,794,983 股的 0.06%。 2、本次回购注销完成后，公司总股本由 863,794,983 股变更为 863,294,983 股。 泰和新材集团股份有限公司（以下简称"公司"或"泰和新材"）于 2024 年 8 月 16 日召开第十一届董事会第九次会议和第十一届监事会第七次会议，审议通过 了《关于调整限制性股票回购价格并回购注销部分限制性股票的议 ...

临时公告:2024-058 证券代码：002254 股票简称：泰和新材 公告编号：2024-058 泰和新材集团股份有限公司 关于控股股东一致行动人增持股份及后续增持计划 暨控股股东持股变化超过 1%的公告 股东烟台国泰诚丰资产管理有限公司保证向本公司提供的信息内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 1、泰和新材集团股份有限公司（以下简称"公司"或"泰和新材"）控股股东 烟台国丰投资控股集团有限公司（以下简称"国丰集团"）之全资子公司烟台国泰 诚丰资产管理有限公司（以下简称"国泰诚丰"），于2024年9月30日至2024年10 月16日通过深圳证券交易所交易系统以集中竞价交易方式累计增持公司股份 10,322,080股，占公司总股本的1.19%。 2、国泰诚丰拟自2024年9月30日起6个月内继续增持公司股票，增持股份数 量不低于总股本的1.19%（即10,322,080股，含本次已增持数量在内），且不超过 目前总股本的2.00%（即17,275,899股；如果增持计划完成前，公司因回购等原因 导致股份总数减 ...

投资者关系活动记录表 编号：2024-038-043 证券代码：002254 证券简称：泰和新材 泰和新材集团股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------------------|--------------------------------|------------------------------------------------------| | | | | | 投资者关系活动 | √特定对象调研 □分析师会议 | | | 类别 | □媒体采访 | □业绩说明会 | | | □新闻发布会 □路演活动 | | | | □现场参观 | | | | □其他 | | | 参与单位名称及 人员姓名 | | 中泰证券、华博万里、中信保诚、交银基金 | | 时间 | 2024 年 10 月 10 日 | | | 地点 | 公司会议室 | | | 上市公司接待人 | | 董事长宋西全、董事会秘书董旭海、证券事务代表刘建宁、 | | 员 | 董事会办公室人员 | | | | 公司介绍基本情况及发展战略等： | | | | | 公司现在是有四大事业群。一个是 ...

投资者关系活动记录表 编号：2024-036-037 证券代码：002254 证券简称：泰和新材 泰和新材集团股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------------|------------------------------------|------------------------------------------------------| | | | | | 投资者关系活动 | √特定对象调研 □分析师会议 | | | 类别 | □媒体采访 | □业绩说明会 | | | □新闻发布会 □路演活动 | | | | □现场参观 | | | | □其他 | | | 参与单位名称及 | 华泰证券 | | | 人员姓名 | | | | 时间 | 2024 年 9 月 24 日 | | | 地点 | 公司会议室 | | | 上市公司接待人 员 | 董事会秘书董旭海、董事会办公室人员 | | | | 答：不是很好。 | 投资者：上半年氨纶的情况？宁夏上半年开的怎么样？ | | | | 投资者：是因为爬坡没做起来？还是下游需求不好？ | | | | 答： ...

Investment Rating - The investment rating for Taihe New Materials (002254) is upgraded to "Buy" [1] Core Views - The report highlights that the company's revenue for H1 2024 reached 1.95 billion yuan, a slight increase of 0.55% year-on-year, while the net profit attributable to shareholders was 117 million yuan, a significant decrease of 45.4% [1] - In Q2 2024, the company achieved revenue of 990 million yuan, representing a year-on-year increase of 6.1% and a quarter-on-quarter increase of 2.0%, with a net profit of 92 million yuan, up 16.2% year-on-year and 267% quarter-on-quarter [1] - The report notes that while the spandex industry is experiencing a recovery in demand, it is also facing a peak in production capacity, leading to a decline in profitability for some companies [1] - The report indicates that the company's gross margin improved to 18.1% in the reporting period, despite a decline in the spandex business gross margin due to falling product prices [1] Summary by Sections Financial Performance - For H1 2024, the company reported a revenue of 1.95 billion yuan and a net profit of 117 million yuan, with basic EPS of 0.13 yuan and a non-recurring net profit of 40 million yuan [1] - In Q2 2024, the company recorded a revenue of 990 million yuan and a net profit of 92 million yuan, with a gross margin of 18.1% [1][4] Industry Analysis - The spandex industry is at a peak production capacity, with an increase of 55,000 tons in capacity in H1 2024 and additional capacity expected in H2 2024 [1] - The report mentions that the price of upstream raw material PETMG has declined, leading to a downward trend in spandex prices [1] Future Outlook - The report projects that the company will achieve revenues of 4.22 billion yuan in 2024, 5.04 billion yuan in 2025, and 6.04 billion yuan in 2026, with year-on-year growth rates of 2.5%, 19.8%, and 39.8% respectively [4] - The net profit attributable to shareholders is expected to be 314 million yuan in 2024, 409 million yuan in 2025, and 572 million yuan in 2026, with growth rates of -5.77%, 30.42%, and 39.76% respectively [4]

投资者关系活动记录表 编号：2024-035 证券代码：002254 证券简称：泰和新材 泰和新材集团股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------------------|-----------------------------------------------|-----------------------------------------------------------------------------------------------------------| | 投资者关系活动 | √特定对象调研 □分析师会议 | | | 类别 | □媒体采访 | □业绩说明会 | | | □新闻发布会 □路演活动 | | | | □现场参观 | | | | □其他 | | | 参与单位名称及 人员姓名 | 中金公司 | 裘孝锋 | | | | | | 时间 | 2024 年 9 月 13 日 | | | | | | | 地点 上市公司接待人 | 公司会议室 董事会秘书董旭海、董事会办公室人员 | | | 员 | 投资者：隔膜业务现在的情况？ ...

证 券 研 究 报 告 泰和新材（002254）2024 年半年报点评 推荐（维持） 氨纶业务短期承压，静待芳纶涂覆业务放量 目标价：10 元 当前价：7.93 元 事项： 公司发布 2024 年半年报，2024H1 实现营收 19.52 元，同比+0.55%；归母净利 润为 1.17 亿元，同比-45.37%；扣非归母净利润为 0.40 亿元，同比-79.21%。 其中 24Q2 实现营收 9.85 亿元，同比+6.11%/环比+1.97%；归母净利润为 0.92 亿元，同比+16.15%/环比+266.55%；扣非后归母净利润为 0.33 亿元，同比51.32%/环比+381.57%。 评论： 芳纶业务毛利率小幅下滑，总体较为稳定。根据公司公告，芳纶板块营收 11.10 亿元，同比-6.86%，营业成本 6.83 亿元，同比-3.07%，毛利率 38.48%，同比2.41PCT。间位芳纶方面，受中小企业聚集的化工园区推进相对缓慢叠加当年 的招标采购活动减少，国内间位芳纶的防护需求有所减弱；工业过滤领域受水 泥、钢铁、筑路等行业的影响需求持续乏力。对位芳纶方面，信息通信基建需 求由快速增长逐步放缓，带来光缆 ...

决议公告：2024-055 证券代码：002254 股票简称：泰和新材 公告编号：2024-055 泰和新材集团股份有限公司 2024 年第三次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示： 1、本次股东大会以现场会议和网络投票相结合的方式召开； 2．本次股东大会召开期间无增加、否决或变更议案情况发生。 一、会议召开和出席情况： 1、现场会议召开时间：2024 年 9 月 2 日（星期一）下午 14:30 2、网络投票时间： 通过深圳证券交易所交易系统进行网络投票的具体时间：2024年9月2日9:15 —9:25,9:30—11:30 和13:00—15:00； 通过现场和网络投票的股东及股东授权委托代表347人，代表有表决权的股 份305,093,842股，占公司有表决权股份总数的35.6847%（截至股权登记日，公 司总股本为863,794,983股，其中回购专户中库存股 8,824,123 股，有表决权股 通过互联网投票系统（http://wltp.cninfo.com.cn）进行网络投票的具体 时间：2024年9月2日 ...

临时公告：2024-056 误导性陈述或重大遗漏。 泰和新材集团股份有限公司关于 回购注销部分限制性股票减少注册资本暨通知债权人的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 一、通知债权人的原由 证券代码：002254 股票简称：泰和新材 公告编号：2024-056 泰和新材集团股份有限公司（以下简称"泰和新材"或"公司"）分别于 2024 年 8 月 16 日、2024 年 9 月 2 日召开公司第十一届董事会第九次会议、2024 年 第三次临时股东大会，审议通过了《关于回购注销部分限制性股票的议案》《关 于变更公司注册资本并修改<公司章程>的议案》，具体内容详见公司于 2024 年 8 月 17 日、2024 年 9 月 3 日刊载于《中国证券报》《上海证券报》《证券时报》《证 券日报》和巨潮资讯网（www.cninfo.com.cn） 的《第十一届董事会第九次会议 决议公告》（公告编号：2024-048）、《关于调整限制性股票回购价格并回购注销部 分限制性股票的的公告》（公告编号：2024-051）、《2024 年第三次临时股东大会 决议公告》（公告编号：2024-0 ...